Lexington, Kentucky - Bedding manufacturer Tempur-Pedic International Inc. says its proposed acquisition of Sealy Corp. is progressing, and it expects to complete the merger of the two bedding groups in March.
Tempur said 26 Feb that Sealy's Information Statement was cleared by the Securities and Exchange Commission and mailed to stockholders on 22 Feb.
Under the terms of the merger agreement with Sealy, this mailing must occur at least 20 calendar days before the closing of the acquisition, which will take the finalisation to 14 Mar 2013.
With respect to Hart-Scott-Rodino (HSR) clearance, the extended waiting period for Federal Trade Commission review expires on 8 Mar 2013, said Tempur, and as long as the group receives HSR clearance by 8 Mar 2013, it intends to close the purchase of Sealy in March.
